Wed, Oct 05, 2022 @ 14:16 GMT

EUR/USD Undecided

EUR/USD opened with a gap down as well and looks determined to resume the bearish momentum as the USDX is trading in the green. Price is almost to reach the median line (ml) of the minor blue descending pitchfork, where could find temporary support again. Technically is somehow expected to drop much deeper after the failure to retest the median line (ml) of the ascending pitchfork, the next downside should be at the lower median line (lml) of the minor ascending pitchfork. A valid breakdown below the 1.1711 and below the median line (ML) of the major ascending pitchfork will confirm the Head and Shoulders pattern.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

Featured Analysis

Learn Forex Trading